ptg, One of the benefits of logging in as a follower - no one can imitate you Notice those who have signed in as a member see their sign in names & or pics at the head of their comments
However, we have a very simple reason to favor dollar and that is that planets are telling us to stay with dollar because the most unique opportunity will come in longer term from here. Last four months dollar has been trading in narrow ranges but it is at low so it looks very negative. I don’t want to follow all above reasons because all these above reasons are for economists, fundamentalists or chartists. We don’t include love or hatred when we predict. I don’t hate gold, in fact I made money in gold from 2001 to 2007, and I still hold physical gold positions. But when it comes to short term trading I write what I see, and I do my job fearlessly. I don’t fear to predict that gold is touching $550 in 2010. Is anyone doing so at this point? By the way there will be a small gift from my close friend and personal client Mr. Nanik if gold hits $550, I respect him a lot, he said Mahendra, he is still wonder that how this prediction can come ture. He has been trading gold the year I was born.
My best advice is hold cash, buy some puts in metals, because metals are to fall in 2010, and stock markets are to remain sideways and dollar/grains are to make history gains, so buy calls.
Good Morning, overnight Asia traded mixed Europe slightly positive. SnP futures were not pushed up the usual 10 points overnight to force cash buy programs so odds are wave "4" continues another day. Yesterdays narrow trading range on low volume has moved daily support up to 1106 with weekly 1100 the more important support. Resistance for today is at 1113-1115 giving us a 15 point trading range. Recall options week required a move up to 1113 to wipe out the puts and we got that first thing Monday. Any drop toward 1100 wipes out a lot of call value and since most of the money was bet on the puts all the market makers require is let time run out near 1100 so that is the most likely path for this expiration Friday.
Chart from Jerry O at my yahoo group
7 comments:
ptg,
One of the benefits of logging in as a follower -
no one can imitate you
Notice those who have signed in as a member see their sign in names
& or pics at the head of their comments
Jay
However, we have a very simple reason to favor dollar and that is that planets are telling us to stay with dollar because the most unique opportunity will come in longer term from here. Last four months dollar has been trading in narrow ranges but it is at low so it looks very negative. I don’t want to follow all above reasons because all these above reasons are for economists, fundamentalists or chartists. We don’t include love or hatred when we predict. I don’t hate gold, in fact I made money in gold from 2001 to 2007, and I still hold physical gold positions. But when it comes to short term trading I write what I see, and I do my job fearlessly. I don’t fear to predict that gold is touching $550 in 2010. Is anyone doing so at this point? By the way there will be a small gift from my close friend and personal client Mr. Nanik if gold hits $550, I respect him a lot, he said Mahendra, he is still wonder that how this prediction can come ture. He has been trading gold the year I was born.
My best advice is hold cash, buy some puts in metals, because metals are to fall in 2010, and stock markets are to remain sideways and dollar/grains are to make history gains, so buy calls.
Mahendra
Good Morning, overnight Asia traded mixed Europe slightly positive. SnP futures were not pushed up the usual 10 points overnight to force cash buy programs so odds are wave "4" continues another day. Yesterdays narrow trading range on low volume has moved daily support up to 1106 with weekly 1100 the more important support. Resistance for today is at 1113-1115 giving us a 15 point trading range. Recall options week required a move up to 1113 to wipe out the puts and we got that first thing Monday. Any drop toward 1100 wipes out a lot of call value and since most of the money was bet on the puts all the market makers require is let time run out near 1100 so that is the most likely path for this expiration Friday.
Larry
Someone is impersonating Jim Curry by posting copyrighted material of him on your board
thanks anon
I did not realize that was Jim Curry's work
Its ok to read, but not here
he is not the hand of God either
Jay
It's FREE week over at Jim Curry's site. So it's not copyright protected for this week.
bob
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